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  1. #1
    Join Date
    Mar 2005

    Collecting earnest money + appraisal

    What is the name of your state?

    We are buying a house that came in $10k below contract price. Today is the inspection objection deadline. Of course I can cancel the contract today on the inspection report.

    We are going to look at other houses, so if we find one we want to bail on the current deal after inspection deadline?

    However, is there some other kind of other deadline or stickynesss that I could be in if I attempt to cancel based on the premise that the appraisal didn't come in and they still haven't come down on the price?

    So, can I just submit an earnest money release even after resolution deadline, still stating that the house didn't appraise, up until the day of closing if necessary to sweat them out?

    Thanks so much for anyone's help!!

  2. #2
    Join Date
    Aug 2005
    St. Odo of Cluny Parish
    What does your written contract say about your questions?

    What does your real estate agent say about your questions?

    There are two rules for success:

    (1) Never tell everything you know.
  3. #3
    Join Date
    May 2000
    Catatonic State
    I agree with SJ and also why isn't your Realtor advising you?

  4. #4
    Join Date
    Aug 2005
    And we can not see your contract nor contingencies therein so have no idea what you could or could not do.

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